DES MOINES – The Iowa Revenue Estimating Conference released its annual December update to revenue projections for state government on Thursday. According to the Des Moines Register, the state will have a nearly $1 billion shortfall between money coming in and what’s going out, with the three-member panel showing the state will take in $8.5 billion in Fiscal Year 2027. It’s the number legislators will use to craft the next budget in the upcoming session, which starts in January. Governor Kim Reynolds says state reserves will be used to cover the difference.

DES MOINES – A ceremony was held on Thursday to honor former Iowa Governor Terry Branstad with the Iowa Award. Governor Kim Reynolds hosted the event at the Iowa Capitol. It’s considered the state’s highest citizen honor, with the Des Moines Register reporting the award has gone to former President Herbert Hoover, Nobel Peace Prize Winner Norman Borlaug, and Artist Grant Wood, among others.

IOWA – After one clipper storm impacted many in the state on Thursday with 1-3″ of quick-hitting snow, another similar blitz is set up on Saturday, according to the National Weather Service. Following that precipitation, extreme cold will settle across Iowa this weekend with coldest temperatures on Sunday morning. Wind chill values of -20 to -30 are in the forecast.

AMES – A 13-point first-half deficit was overcome by the No. 4 Iowa State men’s basketball team, as the Cyclones used a 19-0 run between the end of the first half and start of the second to rally past rival Iowa to win, 66-62. Though the Iowa Corn Cy-Hawk series was secured with the women’s basketball team winning, Iowa State secured its first-ever single-season sweep across volleyball, football, wrestling, and men’s/women’s basketball against the Hawkeyes.